Groww's initial public offering (IPO) aims to attract ₹2950 crore from high-end anchor investors. According to the Reuters story, the anchor funding round will involve around 40 investors, including foreign portfolio investors, mutual funds, and local banks.
According to a Reuters article, three sizable sovereign funds are anticipated to take part in the forthcoming initial public offering (IPO) of stock brokerage company Groww: Singapore's GIC, Norway's Norges Bank Investment Management, and Abu Dhabi Investment Authority.It is probable that these funds will be included in Groww's anchor book, which is scheduled to launch today.
At the upper end of the price range, Groww hopes to raise ₹2950 crore from anchor investors. According to the Reuters story, the anchor funding round will involve around 40 investors, including foreign portfolio investors, mutual funds, and local banks.
Concerning Groww's IPO
Concerning Groww's IPO
In an attempt to generate ₹6630 crore, Groww's parent company, Billionbrains Garage Ventures, is scheduled to go public on the Indian stock exchange. Public bidding for the IPO is scheduled to begin on Tuesday, November 3, and end on Friday, November 7.
The corporation is valued at around ₹61,700 crore at the upper end of the Groww IPO pricing range, which is set at ₹95 to 100 per share.
According to the red herring prospectus, Groww's IPO consists of both a new share sale valued at ₹1060 crore and an offer for sale by current owners, including as Tiger Global and Peak XV Partners, who are selling a total of 55.72 crore shares in the IPO.
The IPO will become one of the biggest public offerings to date in 2025. Tata Capital, LG Electronics India, and HDB Financial all had massive problems in the primary market earlier this year. Meanwhile, Lenskart's ₹7278 crore IPO is proceeding on Dalal Street today.
As of June 30, Groww, a Bengaluru-based company, had 14.38 million active users on its platform, according to the Reuters article. Angel One and Zerodha are fierce rivals of the business in the rapidly expanding finance sector.
The IPO will become one of the biggest public offerings to date in 2025. Tata Capital, LG Electronics India, and HDB Financial all had massive problems in the primary market earlier this year. Meanwhile, Lenskart's ₹7278 crore IPO is proceeding on Dalal Street today.
As of June 30, Groww, a Bengaluru-based company, had 14.38 million active users on its platform, according to the Reuters article. Angel One and Zerodha are fierce rivals of the business in the rapidly expanding finance sector.
Groww IPO is commanding a grey market premium of ₹14 ahead of the launch of the public issue. This indicates that the price of Groww shares is ₹14 greater than the top end of the range. Investors could receive a 14% listing gain on Groww shares at the current GMP and issue price.
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